Journal Communications, Inc.
Sara Leuchter Wilkins
Vice President of Investor Relations
and Corporate Communications
MILWAUKEE–(BUSINESS WIRE)–Journal Community Publishing Group, Inc. (JCPG), a Journal Communications, Inc. (NYSE:JRN) company, said today that it has completed the sale of its New England operations, which was announced in mid-June.
Under the New England agreement, Hersam Acorn Community Publishing, LLC acquired the assets of JCPG’s Connecticut and Vermont clusters — consisting of 11 community papers, two printing facilities (in Trumbull, CT and Bennington, VT) and five shopper products. The Connecticut operations do business under the names “Hometown Publications” and “Trumbull Printing.”
Journal Communications also recently sold its Ohio- and Louisiana-based community publishing and printing operations. The sale of the three clusters enables the Company to turn its focus to deepening its media offerings in its important Wisconsin and Florida markets. In aggregate, proceeds for the assets of the New England, Ohio and Louisiana clusters, net of transaction expenses, were $28.5 million and the after-tax gain was $2.5 million.
Dirks, Van Essen and Murray advised Journal Communications on the New England transaction.